2024-05-13T08:25:57-05:00 2023-06-30 420714325 RSM US LLP 1001 WATER ST STE 500 TAMPA FL 33602 990 2022-07-01 520591672 MOUNT SAINT MARY'S UNIVERSITY MOUN 3014476122 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 WILLIAM E DAVIES VP BUSINESS AND FINANCE 3014476122 2024-05-09 1 WILLIAM DAVIES XXX-XX-XXXX 0 KRISTEN BARNETT P01234578 8133162300 2024-05-09 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z TIMOTHY E TRAINOR 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 143533576 0 X WWW.MSMARY.EDU X 1808 MD MOUNT ST. MARY'S UNIVERSITY, THE SECOND OLDEST CATHOLIC UNIVERSITY IN THE U.S., (SEE SCHEDULE O), OFFERS MORE THAN 60 ACADEMIC MAJORS, MINORS, AND CONCENTRATIONS. GRADUATE PROGRAMS IN BUSINESS, EDUCATION, PHILOSOPHY, THEOLOGY AND DIVINITY ARE ALSO OFFERED ALONG WITH ACCELERATED UNDERGRADUATE PROGRAMS IN BUSINESS AND CRIMINAL JUSTICE. STUDENTS PARTICIPATE IN MORE THAN 70 CLUBS AND HONOR SOCIETIES. STUDENTS ALSO TAKE ADVANTAGE OF THE COMMUNITY SERVICE AND OUTDOOR ADVENTURE PROGRAMS THAT ARE OFFERED BOTH LOCALLY AND ABROAD. IN ADDITION, THE UNIVERSITY HAS 22 VARSITY SPORTS AT THE NCAA DIVISION 1 LEVEL. 29 29 1367 50 117243 0 29875993 18106654 109580018 106498658 10183228 11048929 61393 22878 149700632 135677119 56486798 53168358 0 0 39238730 42772506 101810 91900 2042641 37040066 37705406 132867404 133738170 16833228 1938949 207235664 210873237 87210020 87338385 120025644 123534852 X AS A CATHOLIC UNIVERSITY, MOUNT ST. MARY'S GRADUATES ETHICAL LEADERS WHO ARE INSPIRED BY A PASSION FOR LEARNING AND LEAD LIVES OF SIGNIFICANCE IN SERVICE TO GOD AND OTHERS. 0 0 76041412 53168358 83781977 INSTRUCTIONAL PROGRAMS FOR 2,743 STUDENTS CONSISTING OF 2,033 UNDERGRADUATE STUDENTS, 177 GRADUATE STUDENTS IN BUSINESS ADMINISTRATION, 182 GRADUATE STUDENTS IN EDUCATION, 159 GRADUATE STUDENTS IN THEOLOGY, 25 GRADUATE STUDENTS IN HEALTH ADMINISTRATION, 45 GRADUATE STUDENTS IN BIOTECHNOLOGY AND MANAGEMENT, 30 GRADUATE STUDENTS IN SPORTS MANAGEMENT, 3 GRADUATE STUDENTS IN PHILOSOPHICAL STUDIES, 77 GRADUATE STUDENTS IN APPLIED BEHAVIOR ANALYSIS AND 12 NON-DEGREE SEEKING GRADUATE STUDENTS. THE UNIVERSITY AWARDED A TOTAL OF 624 DEGREES AND CERTIFICATES COMPRISED OF 409 BACHELOR'S DEGREES, 31 POST-BACCALAUREATE CERTIFICATES, 134 MASTER'S DEGREES, 41 THEOLOGY MASTER'S DEGREES AND 9 POST-MASTER'S CERTIFICATES. 25043242 22599438 AUXILIARY ENTERPRISES WHICH IS COMPRISED OF ATHLETICS, STUDENT HOUSING, DINING SERVICES, POST OFFICE, VENDING, PHYSICAL PLANT, LAUNDRY AND PUBLIC SAFETY. 9129062 STUDENT SERVICES FOR THE ENTIRE STUDENT BODY. THIS INCLUDES COUNSELING /HEALTH CENTER, STUDENT AFFAIRS AND STUDENT ACTIVITIES. 6672652 ACADEMIC SUPPORT 4209339 INSTITUTIONAL SUPPORT 10881991 121095707 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 1 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 217 0 1 1367 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X WILLIAM E DAVIES 3014476122 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 GRACELYN A MCDERMOTT CHAIR OF THE BOARD 15.00 X X 0 0 0 RICHARD P MILLER VICE CHAIR OF THE BOARD 10.00 X X 0 0 0 DAVID P CONAGHAN SECRETARY THRU 10/17/2022 10.00 X X 0 0 0 RICHARD M FOLIO TREASURER 10.00 X X 0 0 0 KOKI ADASI TRUSTEE 5.00 X 0 0 0 ANTHONY J AGNONE TRUSTEE THRU 10/17/2022 5.00 X 0 0 0 WAYNE E ALTER III TRUSTEE 5.00 X 0 0 0 FRANCIS X BOLTE TRUSTEE 5.00 X 0 0 0 PAUL J CHEW TRUSTEE 5.00 X 0 0 0 KENNETH B CHODNICKI TRUSTEE THRU 10/17/2022 5.00 X 0 0 0 DEVEDA COLEY TRUSTEE 5.00 X 0 0 0 ROBERT DEEGAN TRUSTEE 5.00 X 0 0 0 J RAPHAEL DELLA RATTA TRUSTEE 5.00 X 0 0 0 DAVID DILUIGI TRUSTEE 5.00 X 0 0 0 ROBERT C DONDERO TRUSTEE 5.00 X 0 0 0 JOSEPH F DOWD JR TRUSTEE 5.00 X 0 0 0 JEREMY M ELLERMEYER TRUSTEE 5.00 X 0 0 0 REV MSGR JOHN J ENZLER TRUSTEE 5.00 X 0 0 0 JASON EPPS TRUSTEE 5.00 X 0 0 0 REV J KEVIN FARMER TRUSTEE THRU 10/17/2022 5.00 X 0 0 0 SR TERESA GEORGE TRUSTEE 5.00 X 0 0 0 PATRICK J GOLES TRUSTEE 5.00 X 0 0 0 ANTHONY J HAYDEN TRUSTEE 5.00 X 0 0 0 SUZANNE HUESTON TRUSTEE 5.00 X 0 0 0 SUSAN JANOWIAK TRUSTEE 5.00 X 0 0 0 PRISCILLA W LOCKE TRUSTEE 5.00 X 0 0 0 MOST REVEREND WILLIAM E LORI TRUSTEE 5.00 X 0 0 0 HUGH W MOHLER JR TRUSTEE 5.00 X 0 0 0 JANICE I OBUCHOWSKI TRUSTEE 5.00 X 0 0 0 PAUL J PALMIERI TRUSTEE THRU 10/17/2022 5.00 X 0 0 0 SOPHIA PARKER TRUSTEE THRU 10/17/2022 5.00 X 0 0 0 WILLIAM S ROOHAN TRUSTEE THRU 10/17/2022 5.00 X 0 0 0 HOUEIDA SAAD TRUSTEE 5.00 X 0 0 0 REV ROBERT J SULLIVAN TRUSTEE 5.00 X 0 0 0 TAMIKA L TREMAGLIO TRUSTEE 5.00 X 0 0 0 NADJA Y WEST TRUSTEE 5.00 X 0 0 0 REV KEVIN W WILDES SJ TRUSTEE THRU 10/17/2022 5.00 X 0 0 0 TIMOTHY E TRAINOR PRESIDENT 50.00 X 432916 0 113840 WILLIAM E DAVIES VP, BUSINESS & FINANCE 50.00 X 289712 0 40536 DR BOYD CREASMAN VP, ACADEMIC AFFAIRS & PROVOST 50.00 X 227070 0 26201 JACK J CHIELLI VP, COMM & ENROLL MGT 50.00 X 227300 0 40882 KRAIG SHEETZ EXEC. VICE PRESIDENT THRU 5/19/2023 50.00 X 202346 0 12751 ROBERT J BRENNAN VP, ADVANCEMENT THRU 6/30/2023 50.00 X 185897 0 37461 DR PAULA M WHETSEL-RIBEAU VP, EQUITY AND SUCCESS 50.00 X 186309 0 20616 ANDREW R BAKER VP & SEMINARY RECTOR 50.00 X 125878 0 20788 LEVI ESSES VP, STUDENT LIFE 50.00 X 157366 0 33207 CHRISTINE MCCAUSLIN DEAN OF THE SCHOOL OF SCIENCE 50.00 X 170816 0 9696 JOHN NAURIGHT DEAN, BOLTE SCHOOL OF BUSINESS 50.00 X 159658 0 23759 DANIEL F ENGELSTAD HEAD MEN'S BASKETBALL COACH 50.00 X 208488 0 13863 DAVID M MCCARTHY ASSOCIATE PROVOST/PROFESSOR 50.00 X 157145 0 9365 JENNIFER STAIGER ASSOC PROVOST OF GRADUATE 50.00 X 155132 0 9363 MARY JACKSON DIR SCHOOL OF HEALTH PROFESSIONS 50.00 X 156209 0 9643 LYNNE ROBINSON ATHLETIC DIRECTOR 50.00 X 149491 0 18673 3191733 0 440644 45 0 1 0 ARAMARK RECEIVABLES LLC 27310 NETWORK PLACE CHICAGO IL 606731273 FOOD SERVICES 5734665 MORGAN-KELLER INC 70 THOMAS JOHNSON DRIVE FREDERICK MD 21702 CONSTRUCTION SERVICES 3592682 RUFFALO NOEL LEVITZ LLC PO BOX 718 DES MOINES IA 503030718 STUDENT RECRUITMENT 889219 METRO ATLANTIC ATHLETIC CONFERENCE INC 712 AMBOY AVENUE EDISON NJ 08837 ATHLETIC CONFERENCE SERVICES 634269 AMERICAN DESIGN ASSOCIATES INC 9000 HARFORD RD BALTIMORE MD 21234 FURNITURE AND INSTALLATION 543928 50 16233 7806016 10284405 730340 18106654 TUITION & FEES 611310 83781977 83781977 AUXILIARY ENTERPRISE 611710 22661676 22599438 62238 CONFERENCES & GROUPS 611600 31205 31205 OTHER SERVICES 221000 23800 23800 106498658 11171524 11171524 7654719 7608254 169060 46465 -169060 -122595 -122595 75200 16233 77073 -1873 -1873 26821 2070 24751 24751 135677119 106381415 117243 11071807 53168358 53168358 2602079 642270 1786739 173070 32452885 29774948 1903096 774841 1379366 1292491 53592 33283 3926097 3505433 332660 88004 2412079 2104579 243601 63899 35756 35756 174834 174834 91900 91900 334605 334605 3279731 2508994 659226 111511 970991 742808 195169 33014 2124747 1625432 427074 72241 1827597 1398112 367347 62138 1776027 1522055 193587 60385 2512583 2153283 273872 85428 197096 150779 39616 6701 3011169 2303544 605245 102380 7197588 6377063 784537 35988 837915 742392 91333 4190 DINING SERVICES 6453703 6453703 OTHER EXPENSE 6247151 4629463 1374020 243668 UNCOLLECTIBLES 723913 723913 133738170 121095707 10599822 2042641 12587 6448 31172203 37032477 13511407 4281948 1792262 2402889 658727 585187 182947 191979 2340810 1725702 223567920 130685207 91761984 92882713 46717392 52282956 11174844 9613897 7910501 9867041 207235664 210873237 9889814 10055325 5759730 6113479 58657610 57586621 1260000 11642866 13582960 87210020 87338385 X 46810207 53743725 73215437 69791127 120025644 123534852 207235664 210873237 X 1938949 898877 671382 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 6654 0 1 13382 20036 0 PART II-B, LINE 1: MSMU IS A MEMBER OF THE MARYLAND INDEPENDENT COLLEGE AND UNIVERSITY ASSOCIATION (MICUA) A MICUA ALLOCATES A PORTION OF THE DUES ASSESSMENT TO NONDEDUCTIBLE LOBBYING AND POLITICAL EXPENDITURES. THIS REPRESENTS THE % OF DUES ALLOCATED TO THAT ACTIVITY. 713535 X 0 59202444 769290 3870807 2592904 236127 61013510 64126845 2927792 -5228834 2402702 220657 59202444 54459144 612473 11562469 2280221 210105 64143760 54281563 952600 1697479 2270100 202398 54459144 52340389 1527172 2568799 1961328 193469 54281563 0.24590 0.54760 0.20650 0 0 2063503 2063503 171529834 98245300 73284534 42509 42509 0 44109140 31912626 12196514 5822934 484772 5338162 92882713 ANNUNITIES PAYABLE 598991 US GOVERNMENT ADVANCES FOR STUDENT LOANS 339726 DEPOSITS 128668 LEASE PAYABLE 318193 OTHER LIABILITIES 20143 NON-RECOURSE OBLIGATION 6578917 RIGHT-OF-USE LEASE PAYABLE 5598322 13582960 X 86843234 898877 -42269194 -41370317 128213551 236127 7227441 7463568 135677119 83334026 2478925 2478925 80855101 236127 52646942 52883069 133738170 PART III, LINE 4: THE UNIVERSITY'S COLLECTION CONSISTS OF ITEMS ASSOCIATED WITH THE HISTORY OF THE UNIVERSITY AND IS MAINTAINED IN THE ARCHIVES. THERE ARE ALSO VARIOUS WORKS OF ART IN CHAPELS ACROSS CAMPUS. THIS COLLECTION PROMOTES OUR EDUCATIONAL PURPOSE BY PROVIDING HISTORICALLY SIGNIFICANT RESEARCH MATERIAL FOR STUDENTS AND PROFESSORS. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT PROVIDES FUNDS TO SUPPORT STUDENT FINANCIAL AID, FACULTY SALARIES AND THE GENERAL OPERATIONS OF THE UNIVERSITY. PART X, LINE 2: THE UNIVERSITY IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE UNIVERSITY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE UNIVERSITY'S TAX POSITIONS AND CONCLUDED THAT THE UNIVERSITY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. NO PROVISION FOR INCOME TAXES WAS REQUIRED FOR 2023 OR 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED AGAINST STUDENT REVENUE -52,646,942. RELATED ENTITY REVENUE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 9,706,366. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 671,382. PART XI, LINE 4B - OTHER ADJUSTMENTS: EQUITY IN INCOME OF SUBSIDIARY 7,227,441. PART XII, LINE 2D - OTHER ADJUSTMENTS: RELATED ENTITY EXPENSES INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENT 2,478,925. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP ALLOWANCES NETTED AGAINST STUDENT REVENUE 52,646,942. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S NON-DISCRIMINATION POLICY IS OPENLY REPORTED TO THE PUBLIC THROUGH THE UNIVERSITY'S WEBSITE, STUDENT CATALOGS, EMPLOYMENT POLICIES AND PROCEDURES AND THROUGH PUBLIC RELATIONS EFFORTS. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FUNDS FROM FEDERAL AND STATE AGENCIES FOR STUDENT FINANCIAL AID AND OTHER PURPOSES. FUNDING SOURCES WERE US DEPARTMENT OF EDUCATION, FEDERAL EMERGENCY MANAGEMENT AGENCY, NATIONAL SCIENCE FOUNDATION, NATIONAL INSTITUTE OF HEALTH, STATE OF MARYLAND SELLINGER PROGRAM, MARYLAND CENTER FOR COMPUTING EDUCATION, MARYLAND DEPARTMENT OF COMMERCE AND MARYLAND DEPARTMENT OF EDUCATION. EUROPE (INCLUDING ICELAND & GREENLAND) 0 3 PROGRAM SERVICES FACULTY MEMBERS TEACHING STUDENTS ABROAD 48410 SOUTH AMERICA 0 1 PROGRAM SERVICES FACULTY MEMBERS TEACHING STUDENTS ABROAD 25139 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1976618 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 25000 0 4 0 0 0 4 2075167 0 2075167 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X X X X 1 RO WALKER COMPANY 11511 SKIPWITH LANE POTOMAC MD 20854 FUNDRAISING COUNSEL & COMMUNICATIONS 0 0 91900 -91900 91900 -91900 AL AK AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC AZ "MATTY CUP" GOLF TOURNAMENT 27090 27090 749 7078 7639 468 BASEBALL FUNDRAISER GOLF TOURNAMENT 25645 3695 21950 1800 5350 4669 1943 4 38698 12538 26160 42734 4913 91433 16233 75200 1800 749 12428 55042 7324 77343 -2143 26821 2070 0 26821 2070 2070 24751 MD 1 0 0 0 1.00000 ROBERT RUDD 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21727 0 ROBERT RUDD 2696 SECURING GAMING LICENSES AND MANAGING GAMING EVENTS. X 0 1 STUDENT FINANCIAL AID 2127 52646942 BOOK VALUE ASSIST WITH COST OF TUITION, ROOM AND BOARD HEERF III DISTRIBUTION TO STUDENTS 472 521416 PART I, LINE 2: THE UNIVERSITY'S USE OF GRANT FUNDS IS TO PROVIDE FINANCIAL AID TO OUR STUDENTS. WE MONITOR THE USE OF THESE UNIVERSITY FUNDS IN ACCORDANCE WITH ESTABLISHED LEVELS OF AWARDS BASED ON A STUDENT'S MERIT CLASSIFICATION AND ON AN ANNUAL BUDGET. THE UNIVERSITY FOLLOWS ALL REGULATIONS RELATIVE TO THE AWARDING OF FINANCIAL ASSISTANCE WHICH IS MONITORED BY THE FINANCIAL AID OFFICE. THE UNIVERSITY RECEIVED CARES ACT AND HEERF FUND DISTRIBUTIONS FROM THE FEDERAL GOVERNMENT. THESE FUNDS WERE DIRECTED BY THE FEDERAL GOVERNMENT TO BE DISTRIBUTED TO STUDENTS WHO WERE FINANCIALLY IMPACTED BY COVID 19. THE UNIVERSITY ACTED AS A PASS THROUGH OF THESE FUNDS AS THEY WERE RECEIVED AND THEN DISTRIBUTED VIA CHECK TO THOSE STUDENTS WITH MOST NEED AS A RESULT OF THE PANDEMIC. X X X 1 1 X X X X 1 1 0 0 0 0 0 0 0 TIMOTHY E TRAINOR PRESIDENT 425000 0 0 0 7916 0 98300 0 19987 0 551203 0 0 0 WILLIAM E DAVIES VP, BUSINESS & FINANCE 264372 0 0 0 25340 0 16362 0 27289 0 333363 0 0 0 JACK J CHIELLI VP, COMM & ENROLL MGT 222699 0 0 0 4601 0 13771 0 30125 0 271196 0 0 0 DR BOYD CREASMAN VP, ACADEMIC AFFAIRS & PROVOST 223830 0 0 0 3240 0 13771 0 15251 0 256092 0 0 0 ROBERT J BRENNAN VP, ADVANCEMENT THRU 6/30/2023 175878 0 0 0 10019 0 9000 0 32415 0 227312 0 0 0 DANIEL F ENGELSTAD HEAD MEN'S BASKETBALL COACH 206088 0 2000 0 400 0 12450 0 2351 0 223289 0 0 0 KRAIG SHEETZ EXEC. VICE PRESIDENT THRU 5/19/2023 201369 0 0 0 977 0 12120 0 2346 0 216812 0 0 0 DR PAULA M WHETSEL-RIBEAU VP, EQUITY AND SUCCESS 182093 0 0 0 4216 0 11093 0 11898 0 209300 0 0 0 LEVI ESSES VP, STUDENT LIFE 157030 0 0 0 336 0 4950 0 29103 0 191419 0 0 0 JOHN NAURIGHT DEAN, BOLTE SCHOOL OF BUSINESS 113517 0 0 0 46141 0 7129 0 19106 0 185893 0 0 0 CHRISTINE MCCAUSLIN DEAN OF THE SCHOOL OF SCIENCE 169795 0 0 0 1021 0 9696 0 2517 0 183029 0 0 0 LYNNE ROBINSON ATHLETIC DIRECTOR 148164 0 0 0 1327 0 9150 0 11408 0 170049 0 0 0 DAVID M MCCARTHY ASSOCIATE PROVOST/PROFESSOR 157145 0 0 0 0 0 9365 0 342 0 166852 0 0 0 JENNIFER STAIGER ASSOC PROVOST OF GRADUATE 154351 0 0 0 781 0 9363 0 2036 0 166531 0 0 0 MARY JACKSON DIR SCHOOL OF HEALTH PROFESSIONS 155868 0 0 0 341 0 9393 0 837 0 166439 0 0 0 PART I, LINE 1A IT IS THE UNIVERSITY'S POLICY TO REIMBURSE EMPLOYEES FOR BUSINESS EXPENSES INCURRED BY THE EMPLOYEE TO FURTHER THE MISSION OF THE UNIVERSITY. INFREQUENTLY, IN ACCORDANCE WITH IRS GUIDELINES, THE UNIVERSITY MAY REIMBURSE AN EMPLOYEE FOR THE COST OF A SPOUSE WHO ATTENDS A FUNCTION HAVING A SIGNIFICANT ROLE OR IS INVOLVED WITH FUNDRAISING WHICH CONSTITUTES A BUSINESS PURPOSE. THESE AMOUNTS ARE TAXABLE AND PROPERLY REPORTED ON THE FORM W-2. THE UNIVERSITY HAS AN EMPLOYMENT CONTRACT WITH ITS PRESIDENT TIM TRAINOR. IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT THE UNIVERSITY PROVIDES HOUSING FOR THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER WHICH IS A NON-TAXABLE BENEFIT IN ACCORDANCE WITH IRS GUIDELINES. THE VALUE OF THE NON-TAXABLE HOUSING WAS ESTIMATED AT $15,540. THE UNIVERSITY HAS AN EMPLOYMENT CONTRACT WITH ITS VICE PRESIDENT ANDREW BAKER. IN ACCORDANCE WITH THE TERMS OF THIS CONTRACT THE UNIVERSITY PROVIDES HOUSING FOR THE CONVENIENCE OF THE EMPLOYER WHICH IS A NON-TAXABLE BENEFIT IN ACCORDANCE WITH IRS GUIDELINES. THE VALUE OF THE NON-TAXABLE HOUSING WAS $11,265. PART I, LINES 4A-B TIMOTHY TRAINER PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN 457(F) AND THE UNIVERSITY CONTRIBUTED $80,000 DURING CALENDAR YEAR 2022. THIS AMOUNT IS PROPERLY REPORTED ON SCHEDULE J, PART II, COLUMN (C). JOHN NAURIGHT RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $44,187. A TOWN OF EMMITSBURG 526017142 2009-12-29 1250000 RENOVATIONS TO RESIDENCE HALL 0 0 0 B COUNTY COMMISSIONERS OF FREDERICK COUNTY 526000943 355697CG6 2017-12-21 59172319 DEBT REFINANCING 0 0 0 A 1000000 1250000 92516 1157484 2010 0 0 1 1 B 1920000 59172319 3822499 1146332 3007599 51195889 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 0 A 1 B 1 SERIES 2017A BOND THE ISSUES PRICE OF THE BOND PER FORM 8038 WAS $59,172,319 AND THE STATED REDEMPTION OF THE BOND IS 54,590,000. THE DIFFERENCE BETWEEN THE TWO REPRESENTS NONREFUNDING PROCEDS OF THE ISSUES IN THE AMOUNT OF $3,007,599. X 42 730340 FMV 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE OF THE BOARD FOR THEIR REVIEW PRIOR TO FILING WITH THE IRS. A COPY OF THE FORM 990 IS PROVIDED TO EACH MEMBER OF THE UNIVERSITY'S GOVERNING BODY BEFORE FILING THE FORM. FORM 990, PART VI, SECTION B, LINE 12C COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE OFFICE OF THE PRESIDENT. CONFLICTS WITH MEMBERS OF THE BOARD OF TRUSTEES ARE DISCLOSED, AND DISTRIBUTED TO RELEVANT DEPARTMENTS ANNUALLY. TRANSACTIONS WITH THESE PARTIES ARE SEPARATELY REVIEWED. AN INDIVIDUAL OR TRUSTEE WITH A CONFLICT REMOVES THEMSELVES FOR THE DELIBERATIONS AND DECISION. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT PRESENTS A SELF-EVALUATION TO THE BOARD OF TRUSTEES BASED ON AGREED UPON PERFORMANCE GOALS. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEW SALARY AND BENEFIT COMPARISON DATA COMPILED FROM SEVERAL SOURCES FOR INSTITUTIONS OF SIMILAR SIZE AND SCOPE. THE FULL BOARD DISCUSSES THE PRESIDENT'S PERFORMANCE AND REVIEWS THE COMPARATIVE SALARY DATA. THE EXECUTIVE COMMITTEE MAKES THE FINAL DECISION ON THE PRESIDENT'S SALARY AND DEFERRED COMPENSATION IF APPLICABLE, WHICH IS COMMUNICATED TO THE FULL BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE IS COMPRISED OF INDEPENDENT MEMBERS AND THE MEETINGS ARE DOCUMENTED BY FORMAL MINUTES. FOR OTHER OFFICERS OR HIGHLY COMPENSATED EMPLOYEES, SURVEY DATA PROVIDED BY CUPA IS USED ALONG WITH COMPENSATION DATA FROM PEER ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 671,382. THE MOUNT CLUB INC 16300 OLD EMMITSBURG ROAD EMMITSBURG MD 21272 520591672 LIQUOUR SALES MD 0 0 MOUNT SAINT MARYS UNIVERSITY MOUNT ST MARY'S SEMINARY 16300 OLD EMMITSBURG RD EMMITSBURG MD 21727 611936188 TO SUPPORT UNIVERSITY MD 501(C)(3) LINE 1 MOUNT SAINT MARYS UNIVERSITY 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0 MOUNT ST MARY' SEMINARY L 192218 ALLOCATED MOUNT ST MARY' SEMINARY N 1369540 ALLOCATED MOUNT ST MARY' SEMINARY O 1018075 ALLOCATED MOUNT ST MARY' SEMINARY Q 1928947 ALLOCATED